You are on page 1of 17

Barclay's Bank Barclay's is currently the fourth largest retail and business bank in the United Kingdom.

It is also one of the top ten largest financial banks in the world. The bank has been banking for more than three hundred years ago, in the city of London. . In 1690, the bank was established by John Freame and his associate, Thomas Gould, in Lombard Street. In 1736, the business was renamed as 'Barclays' when, James Barclays (who had married to John Freame's only daughter) became a business partner. The bank was involved in protecting their customer's (goldsmith bankers) gold deposits, and loaning money to worthy monarchs and merchants. We have been in India for nearly three decades,through Barclays Capital , a leading Investment bank and more recently with our retail and commercial banking services in Mumbai, Pune , New Delhi, Hyderabad, Kanchipuram, near Chennai, Junagarh, Ahmednagar,Rajahmudry , and Nelamangala near Bangalore.

COMPANY PROFILE:
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management. It operates through branches, offices and subsidiaries in the United Kingdom and overseas. Barclays has two business groups: Global Retailing and Commercial Banking, and Investment Banking and Investment Management. Global Retail and Commercial Banking includes UK retail banking, Barclays Commercial Bank, Barclaycard, Global Retail and Commercial Banking (GRCB)-Western Europe, GRCB-Emerging Markets and GRC-Absa. Investment Banking and Investment Management includes Barclays Capital, Barclays Global Investors and Barclays Wealth. In March 2010, the Company reorganised its activities to form three business groupings: Global Retail Banking (GRB), Corporate and Investment Banking and Wealth Management (CIBWM), and Absa. In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc.

OBJECTIVE OF BARCLAYS : The Banking on Change partnership focuses on the


development of savings and loans groups managed by communities themselves. By providing disadvantaged people with access to basic financial services such as savings and sources of credit, their vulnerability to life emergencies such as illness , diseases and natural disasters can be reduced. This helps to stabilize and increase their incomes and reduce poverty levels.

The partnership has three main objectives:

Outreach :To make use of savings-led community approaches to reach 500,000 disadvantaged people who are excluded from, or have limited access to, formal or informal financial services Impact :To achieve a positive socio-economic impact on disadvantaged and vulnerable people through the provision of basic financial services within communities, the development of add-on services such as training on entrepreneurial skills, and the improvement of the existing savings-led community finance methodology Inclusion : To improve marginalized communities level of financial inclusion through the use, and trial of, informal and formal financial products, services and channels tailored to their requirements.

Eligibility for selection for the job:


A GPA of at least 3.6 and above

A strong record of academic achievements Degree holder/ masters Strength in conceptual and analytical skills Extra curricular activities Community involvement Excellence in interpersonal, communication and team skills Willingness and ability to work as part of a team Demonstrate adaptability, initiative and resourcefulness Presentation skills

HR Policies followed in Barclays


HR manager (Barclays) discussed some of the important tips to make a successful hiring:
Forecasting Turnover Rate Annually. How many people to be called for requirement. How many leaves within a year.

Deciding for the quantity of people needed. Identifying KSA (Knowledge Skill Ability) & experience for the job. Job Description & Job specification

Attracting people for available position. Recruitment

Interviewing them for Position Offering Position

HR Managers work on the HR inventory by calculating


Forecasting Required Turnover rate: No. of applicants needed / % of applicants selected X % of acceptances. Predicted Sales force Turnover Rate(people leaving due to controllable & uncontrollable reason): No. of executives left during the year/ average sales force size during the year. Some of the controllable factors that affected the employees turnover at Barclays: Retirement Promotion Transfer Termination Some of the uncontrollable factors that affected the employees turnover at Barclays: Marriage Quitting Returning to college changing career.

I Recruitment
Recruitment is the process of attracting, screening and selecting qualified people for a job in an Organisation.

Sources of recruitment in Barclays


Consultancies Walk-in-Interview Employee reference Campus placements Online job portals (promotion purposes) Internal job posting The main source of searching applicants for Barclays is through consultancies. Another important source is internal job postings. Barclays is dedicated to assisting employees to reach their professional goals through internal promotion and transfer opportunities. One of the tools the company makes available to employees in managing their career is internal job posting. This procedure enables current employees to apply for any available position either before or at the same time the position is advertised outside of the company.

Recruitment Process at Barclays for Selection involves the following:

1.Telephonic interview
Interview process begins with the first round of interview i-e telephonic interview. Applicants will need to go through before they are hired in the company. Barclays use this interview to satisfy the dual motive of; Lowering their expenses

Screening a large no. of employees. This non automated interview is conducted to know the persons effectiveness on giving answers & focus is on tone of applicants voice. Selected candidates are called for other interview rounds.

2. Preliminary Interview
Preliminary interview, also known as screening interview, is used to weed out those candidates who do not meet the minimum criteria laid down by the organisation. General introduction of candidates is the main question to be addressed and also to check whether they meet the eligibility criteria according to Job description & job specification. HR executives select candidates meeting the eligibility criteria and they are promoted for the next round.

3. Interactive Interview
The main purpose of this interview is to test the Inter-communication skills of the applicant. As Barclays deals with International customers; this interview is of prime focus. In this interview a Senior HR executive conducts an interview of the selected applicant to test the command over language (English) of the applicant. Applicants are allowed to speak on for 4-5 minutes in the given topics.

4. Group Discussion
Applicants clearing last three rounds are have to go through a Group discussion round. It is conducted to judge the following: Ability to work in a team

Communication Skills Reasoning ability Leadership Skills Initiative Assertiveness Ability to think on ones feet. Employees & managers have to go through team work in an organisation. Therefore Interaction in an group is an important criteria for selection.

5. Personal Interview (In-depth)


This is the second last stage of interview round conducted by HR manager to test the suitability of the personnel with the job. It is an in-depth interview in which the candidate is probed thoroughly both in terms of technical as well as behavioural qualities. Getting through with this round of interview would increase the

probability of an employee to get selected.

6. Operation Manger Round


The final round of interview is undertaken by the Operation manager of the company to check the candidates suitability with the department. If Operation manager is not satisfied then they would offer candidate another job which is other than the job in question.

Offer Letter Offer letter is given that confirms the details of an offer of employment to the selected candidates. The job offer letter includes details such as job description, reporting relationship, salary, and bonus potential, Benefits, vacation allotment, and more. The candidates are not allowed to disclose their details regarding packages, and their profile as per security reasons. Only Entry exit pass is issued in lieu of ID cards. Visiting cards are issued only for B2B purposes.

II Performance appraisal
Barclays carry out systematic & orderly evaluation of performance of their employees. They are conducted on the following basis: Mid-Term Appraisal: When employees complete their 6 months of Probation period, they have to undergo a performance appraisal which involves following steps Filling a self appraisal form. One on one interview with the Team manager to assess the employees performance & also to get feedback. Employees are then rated on the basis of mid-term basis according to their performance:
Rating A++ A+

A B+ B C

To know the strengths and weaknesses and the areas of improvement. To evaluate and compare the performance of an employee in contrast to other employees. To discover hidden skills and talent. To assess whether the employee is on the right job or not. To know about the career opportunities that should be provided to an employee. Also from the administrative point of view: Barclays perform performance appraisal which serves as a feedback for the firm.

Annual Appraisal
Annual appraisal involves the same process as in midterm appraisal & then employees incentives are decided on the basis of rating.

III Motivation Process


Barclays work on individuals intensity, direction & persistence of efforts towards attaining the goals of employees.

It emphasises on Lower level as well as middle level needs of employees.

Theory Implication
Vrooms Expectancy Theory Valence

Instrumentality
Expectancy

Effort

Performance

Reward

Higher the effort higher will be the performance. Higher performance will lead to promotion, hence more valuable rewards Thus, Barclays motivates its employees on the basis of Vroom Expectancy. They mainly focus on giving recognition to employees for the efforts put in by them. Company is offering following benefits to its employees: Award for Performance Star Performer- For Outstanding performance & achieving all the given 1 targets. 2 Newton Award- For the new Employees who performed well. 3 Best Customer service award- If an employee is appraised by the customers.

Apart from these awards bank also provides the following: Goodies

Voucher of Shopper stops. Money

Barclays believe there employees to be committed; thus promote various events to make employees feel comfortable with the working environment. For eg. Allowing Casual wears & Flower day etc. Team Work Building Barclays focus on building team work skills of employees ; thus organise various Team play games.

Policy for employees requiring Improvement

1.Performance Improvement Plan(PIP)


Employees not performing up to the mark are offered for PIP; Employee has to undergo a 3 months improvement period.

2. Corrective Action Plan(CAP)


Employees who require further improvement are allowed to go for Corrective action plan; a 2 months duration improvement plan to provide more learning to employees.

3. Referred to HR(RHR)
RHR would be given to the employees who are not able to make up to the standards after completing the PIP & CAP. They are asked to quit from the job.

IV Training & Development


For training & development of employees Barclays provides two types of training. Training is provided on weekly or monthly basis.

Process training is provided on the basis of knowledge & technical skills required to be learned as per the job profile. It includes the following: Computer Application Skills Code of conduct Dealing with customers Dos & Donts- Very important to know the rules Power of each & every member of the organisation. Employees can anytime consult HR for any queries.

Barclays is a bank with customers overseas. Thus it provides timely training to its employees regarding voice & accent to improve it over time. Rapport building with its customers is mainly an important task for the bank thus it focuses on providing appropriate training for regional Language mainly British English. Regional knowledge has helped Barclays in gaining customers; mainly during the time of Barclays Premier League.

Refresher Training

Refresher training is provided one week prior to the technology to be used. This would be provided as when there is new technology or software is to be implemented. Other steps in training include: Assigning projects to the employees Working in TSS (Team Support System) for assisting managers. Presentations.

V Compensation & Benefits


Salary is provided through Salary Account: Zero Balanced Account Various allowances are provided to its employees including Travelling Allowance, food allowance etc.

VI. Exit Interview


In case, employee literally informs to resign from the job, an exit interview is conducted. It is a typically a meeting at least between one representative from companys HR and a departing employee.Human resource departments conduct exit interviews to gather data for improving working conditions & retaining employees. Person going through Exit interview is allowed to re join in the later time.

In case of absconding employees are not allowed to re join and bank is not 1`qliable to pay any extra salaries.

SWOT ANALYSIS
Strengths:1. HR policy is strengthening by internal job postings. The company allows the employee to manage their career through internal job posting. They can apply to any available position which assists employees to reach their professional goals. 2. A systematic & orderly performance appraisal of the employees gives motivation to perform better. It discovers hidden skills & talent of an employee. 3. Barclays provide comfortable working environment to the employees. It values the social needs of employee thus organizing games, providing shopping vouchers. 4. Policy for improvement of employees gives a distinct position to Barclays. They offered 5 months to employee to improve & correct their performance.

Weaknesses:1. Telephonic interview cuts the expenses & screened a large no. of employees although it is not fair for example due to illness a person could not respond properly then he will be out from the selection process. 2. Preliminary & Interactive interview are taken to check the eligibility criteria & command over language this can be checked in one interview. The interview undertaken by the operation manager can be accompanied with the personal interview. The suitability of a candidate for a department can be checked in personal interview. As this lengthen the interview process unnecessarily.

Opportunities:-

1. Barclays allows the employee internal job posting so that the company saves the time as well as money regarding new vacancies. So that should be encouraged. If the position is not filled internally then they should go for the recruitment. In the internal job posting the employee already well known with the company, the time to train a new employee can be saved. 2. Performance appraisal should be promoted because the employee will perform well to achieve good rating. This will create a competitive environment and enhance companys efficiency. 3. Barclays values the social & cultural values of employee. There is huge opportunity for the company to upgrade this to get sustainable & good working environment. This and incentives in cash and kind helps the other people to attracted to get work with Barclays.

Threats:1. Interview process should be reviewed & shorten. Eligibility and command over language should be checked in an interview. Otherwise the lengthy process will hesitate a new person to apply. This threat is to be converted into strength by company ASAP. 2. Telephonic interview should be reviewed & revised to give the right person the right chance. Sometimes the person with good command over language and has good tone will be selected even if he is not eligible. Or may be the eligible person will be disqualified if he is ill or have throat problem. 3. Policy for improvement although is like giving another chance to employee. But sometime
person did not understand the concept and enjoys 5 months without work.